Oddbean

"Never selling" is literally the definition of its value being zero. It can only have value if it's offered for sale on the market. You know how the price of something is a function of supply and demand? There has to be supply. No one selling means no supply. No supply, no price.

Supply & demand is just how the price of something is determined in a free market. There will always be Bitcoin to sell. There will always be people who will not sell their Bitcoin at any price. The % of total Bitcoin available to buy decreases each cycle. If you can't understand how this can be true, I don't have the time to explain it to you.

Yes & yes. Some Sats are not for sale unless price rises & some Sats are not for sale regardless of price. Sats tend to move from weak hands to stronger hands. Each cycle more individuals hold sats & more of those Sats are not for sale. Absolute scarcity is a crazy invention.

Seems more like badges or trophies than a currency. The value of a currency is literally tied to the amount in circulation. A currency that doesn't circulate is like a library you're never allowed to take a book off the shelf from. The way you describe it, holding a stash of Bitcoin is some sort of merit badge or badge of honor. It identifies you as holding some set of beliefs the way a cross on a chain around the neck or a kippah on the head identifies you as holding some set or beliefs. Of course you wouldn't sell your badge or trophy the same way you wouldn't sell the family bible or that trophy you won in a high school hockey tournament. That's why you have to hang out on "Bitcoin Twitter" as the dude in the video says, it's the congregation where the set of beliefs is agreed on. In that case I have some questions. (a) Why such an expensive badge. A cross on a chain around the neck can literally cost $10 even made from silver, but still identify you as a Christian. The "gold medals" from the Olympics aren't expensive to manufacture either. It's your actions that make you deserving to display one. (b) Why all the talk about currency and how it will replace the US dollar. It will clearly never do that if it gets squirreled away like a set of rare postage stamps. If Bitcoin represents other beliefs then why not promote those. (c) The currency problem still remains unsolved. Bitcoiners, that's one of their beliefs, want a degree of decentralization and independence from governments, monetary independence most of all. If Bitcoin itself doesn't do that and is just a symbol for the desire to wean oneself from central banks, then what steps are you actually in undertaking to achieve that. Because if you don't undertake any steps you're just dreamers the way Jehovah's Witnesses dream of the apocalypse that never materializes.